The Insurance Regulatory Authority (IRA) has published draft amendments, introducing insurance coverage for risks associated with cryptocurrency holdings. Under the proposed rules, the IRA is classifying "digital asset insurance" as a new subcategory of business.
The Financial Regulatory Authority (FRA) has issued a resolution that requires companies and entities engaged in non-banking financial activities to obtain cyber insurance, particularly if they operate a digital platform or electronic applications.
The National Authority for Probity, Prevention and Fight against Corruption (INPPLC), the Insurance and Social Security Supervisory Authority (ACAPS) and the Moroccan Insurance Federation (FMA) have signed a framework agreement to promote transparency and the prevention of corruption in the insurance sector.
These are the updates on insurance regulatory developments in China.
The government has proposed the establishment of the Actuarial Institute of Bangladesh (AIB) to develop and promote the actuarial profession in the country.
The Securities and Exchange Commission of Pakistan (SECP) has organised a roundtable discussion to identify policy and regulatory measures to enhance the takaful industry's market share and promote Shariah-compliant financial inclusion, thereby contributing to economic growth and ongoing regulatory reforms.
The newly-established sovereign wealth fund Danantara has plans to consolidate the state-owned insurance and reinsurance sector, the fund's managing director and chief economist, Reza Yamora Siregar, has announced.
The Australian Prudential Regulation Authority (APRA), Australia's insurance regulator, has released a response paper outlining refinements to its proposed updates to the general insurance reinsurance framework.
Hong Kong's insurance regulator, the Insurance Authority (IA), has introduced a new framework for the classification of Domestic Systemically Important Insurers (D-SIIs).
The chairman of the Supreme Committee for Insurance Regulation, Mr Muhammad Al-Otaibi, has announced the cancellation of a unified system for compulsory vehicle insurance policies following a court ruling on an appeal.